Do You Make These Simple Mistakes In Real Estate

Ladies and gentlemen: This is not your mother or father's real estate market! While there are some similarities to past markets, the mixture of politics, economics, finance, uncertainty, world affairs/events, interest rates, and lack of predictability, have formed a somewhat-uneasy alliance, which, when understood and considered, have little ultimate impact, yet, all-too-often, create a confluence of somewhat undesirable circumstances, which create stumbling blocks, obstacles, and obstructions. Perhaps a lot more than ever, who you select, and why, to represent your interests, as your Real Estate Professional, has a major impact, in attaining the most desirable goals. Before you decide on this interview, carefully consider your objectives and goals, in a sensible, non-emotional manner. As opposed to merely saying you want to get the greatest price, or some pie-in-the-sky number, consider, what you could be willing to pay, to buy your home! Your real estate agent should give you Comparables, or what similar houses, in your market, have recently sold for. This is the best indication of suggested listing prices, but remember that each house differs, and slight differences often overly impact exactly what a buyer is welling to pay, or if he's even interested. Let's review 5 major considerations in the present market.

1. Time frame interest rates have already been at, or near historic lows: The past couple of years, interest rates, and thus mortgages, have now been at or near, historic lows. It has permitted people to purchase more house for exactly the same monthly payment, the uncertainty continues to exist, concerning simply how much longer they'll remain so low. Most experts are calling for interest rates to nudge slightly upward within the next several months, but they issue the caveat, this will depend on the overall economic conditions.

2. Historically low ownership rate: Due to several factors, like the economy, housing costs (especially in certain areas), rental availabilities, the required downpayment (which many don't have, or don't wish to commit), and uncertainty, when it comes to the economy, jobs, etc, the percentage of men and women owning their own home is lower than it has been in decades.

3. Low inventory: Partly due to the demographics, in terms of age ranges, etc, and somewhat because many homeowners ask themselves where they are likely to move, in addition to many individuals retiring later, we're witnessing, in lots of regions, a low inventory of homes listed on the market.

4. Willing and able buyers: There appear to be available buyers, in certain regions, but these individuals, tend to be aggravated by the mix of low inventory, mortgage and downpayment obstacles, uncertainties, etc.

5. Mortgage qualifications: Banks and mortgage companies are constantly tweaking their requirements for accepting buyers for mortgage consideration. In the last many years, in order to qualify for the best available rate, one's credit score must be somewhat higher than before, in addition to other debt considerations. While this is often overcome, one must find the right buyer, with sufficient patience, energy and willingness, to overcome potential frustrations, etc.

Understanding the nuances makes one better effective at realistically listing their house for sale. Carefully interview potential real-estate agents, and choose usually the one who's best for you personally!

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